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18 bidders take part in CNOOC’s LNG auction on Shanghai Gas Exchange – CNOOC official

OilNOW -
Eighteen bidders took part in China National Offshore Oil Corp’s (CNOOC) liquefied natural gas (LNG) auction on the Shanghai Petroleum and Gas Exchange on Wednesday, an official at the state-controlled oil company involved in the sale said. The 90,000 tonnes...
News

Analysts say ExxonMobil PSA in line with frontier countries worldwide

OilNOW -
As debate continues in the South American country of Guyana on the fiscal terms outlined in the Production Sharing Agreement (PSA) with US oil major ExxonMobil, UK-based Wood Mackenzie and Norwegian headquartered research company Rystad Energy say the agreement...
Exploration

Government releases CGX’s PSA covering Corentyne offshore concession

OilNOW -
The Government of Guyana on Monday released another Petroleum Agreement, this time for CGX Resources Inc.’s Corentyne offshore concession. Government had a few weeks ago released a similar agreement between itself and CGX Resources Inc. but for their Demerara...
News

TechnipFMC secures FPSO design contract from BP

OilNOW -
BP has awarded TechnipFMC the engineering design contract for the Tortue/Ahmeyim fields floating production, storage and offloading (FPSO) unit. TechnipFMC is the same company that has been awarded a contract by ExxonMobil Guyana for the engineering, manufacture and delivery of...
News

Exxon Guyana acreage equivalent to 2,000 Gulf of Mexico blocks; nation prepping for windfall

OilNOW -
ExxonMobil’s position in the South American country of Guyana spans 11.5 million acres, inclusive of the 6.6 million acres Stabroek Block where more than 3.2 billion barrels of oil have already been found. The company says this is “equivalent to...
News

Guyana gets US$20M from World Bank for O&G capacity building

OilNOW -
Guyana says it will use a US$20M loan approved by the World Bank for capacity building initiatives ahead of first oil in 2020.These include finalizing critical legislation and the establishment of critical units, such as a Petroleum Revenue Unit...
News

Guyana says ExxonMobil signature bonus still intact, earning interest

OilNOW -
Guyana’s Minister of Finance, Winston Jordan says none of the US$18M—received as a signing bonus from US oil major ExxonMobil—has been spent, and the sum has in fact earned interest between July 2016 and now since it was placed...
Exploration

Pacora discovery emboldens explorers down dip

OilNOW -
ExxonMobil’s 7th oil discovery off the coast of Guyana at the Pacora reservoir has further emboldened joint venture partners down dip in the Orinduik block. Eco Guyana holds a 40% working interest alongside Tullow Oil (60%) in the 1,800 km2...
News

Japanese Master Plan focusing on technical advice not policy – Trotman

OilNOW -
An Oil and Gas Master Plan developed by the Mitsubishi and Chiyoda Corporations in collaboration with the Government of Japan provides a technical review of the use of petroleum and its by-products in Guyana and the South American country’s...
News

Exxon targeting 2 billion barrels of oil in first 3 phases of development in Guyana

OilNOW -
US oil major ExxonMobil is targeting production of 2 billion oil equivalent barrels in Guyana over the first three phases of development in the 6.6 million acres Stabroek Block, beginning with Liza Phase 1 in 2020. In its recently released...
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Exxon not backing out of Block S8 talks – Jagdeo 

ExxonMobil, Hess and CNOOC are not backing out of talks with the Guyana government for a shallow water block...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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